Cryoport, Inc. (NASDAQ:CYRX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Cryoport, Inc. (NASDAQ:CYRX) by 2.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 135,062 shares of the company’s stock after selling 3,077 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cryoport were worth $1,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thematics Asset Management increased its stake in Cryoport by 176.2% in the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock valued at $13,828,000 after purchasing an additional 1,087,800 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Cryoport by 49.9% in the 3rd quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock valued at $21,887,000 after buying an additional 898,481 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Cryoport during the 3rd quarter worth $3,405,000. JPMorgan Chase & Co. lifted its position in Cryoport by 1,464.4% in the third quarter. JPMorgan Chase & Co. now owns 305,237 shares of the company’s stock valued at $2,475,000 after acquiring an additional 285,726 shares during the last quarter. Finally, Algert Global LLC lifted its position in Cryoport by 282.7% in the third quarter. Algert Global LLC now owns 247,483 shares of the company’s stock valued at $2,007,000 after acquiring an additional 182,808 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CYRX. Guggenheim began coverage on Cryoport in a report on Thursday, December 19th. They issued a “buy” rating and a $11.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Cryoport in a research note on Wednesday, March 5th. Finally, UBS Group upgraded shares of Cryoport from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cryoport currently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Cryoport Stock Up 24.8 %

Cryoport stock opened at $7.10 on Tuesday. The stock has a market capitalization of $354.36 million, a price-to-earnings ratio of -2.10 and a beta of 1.67. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $6.78 and a two-hundred day moving average of $7.36. Cryoport, Inc. has a twelve month low of $4.58 and a twelve month high of $20.11.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The firm had revenue of $59.53 million for the quarter, compared to analysts’ expectations of $58.71 million. During the same quarter in the previous year, the company posted ($0.29) EPS. As a group, research analysts expect that Cryoport, Inc. will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jerrell Shelton sold 4,620 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.29, for a total value of $29,059.80. Following the completion of the sale, the chief executive officer now owns 765,399 shares in the company, valued at $4,814,359.71. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 14,431 shares of company stock valued at $80,884 over the last ninety days. Corporate insiders own 10.10% of the company’s stock.

About Cryoport

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.